Business – Page 88 – Maravi Express – Your Kind of News. Clear and accurate.

MRA upbeat with the rehabilitation of Beira-Marka railway line

September 5, 2024

* To increase volume of trade between Malawi and Mozambique * While at the same time enhancing revenue collection for MRA By Arnold Namanja, MANA Malawi Revenue Authority (MRA) has said rehabilitation of the Beira-Marka railway line in Nsanje District is expected to increase volume of trade between Malawi and Mozambique while at the same time enhancing revenue collection for MRA. This was said by MRA Marketing Communications Manager, Wilma Chalulu on Wednesday when the tax collection body took…

Amended law bites hard on 3 offenders jailed for 10 years each for ESCOM transformer vandalism and theft

September 4, 2024

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The convicts Charles and Patrick * The jail term is deterrent enough considering that the offences were pre-meditated * The act of vandalism has affected power supply to Nguludi Hospital and businesses Maravi Express Vandalism of an Electricity Supply Corporation of Malawi (ESCOM) transformer and theft of its underground cables have earned three men 10 years imprisonment each in Mulanje, courtesy of Electricity (Amendment) Act 2024. The Mulanje Senior Resident Magistrates’ Court passed the sentence on Gift M’mangisa, Geoffrey…

ESCOM establishing cause of nation-wide electricity system shutdown

September 4, 2024

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Maravi Express Electricity Supply Corporation of Malawi (ESCOM) alerts the public that it experienced a system shutdown at 11h42 today September 4 and is “yet to establish the cause of the country-wide loss of the power supply”. “Consequently, most parts of the country do not have electricity supply,” said the public notice from Management. “We have since stepped up our efforts to restore power supply in the shortest time possible. “We regret any inconvenience the system shutdown may cause…

Malawi Supreme Court of Appeal already pronounced itself in favour of international arbitration in Malawi

September 4, 2024

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* One of the parties had referred to the International Chamber of Commerce a commercial dispute in respect of a contract which was being performed in Malawi * The other party sought an anti-arbitration injunction and after the High Court refused to grant the injunction, Supreme Court of Appeal upheld the lower court’s decision Analysis by Duncan Mlanjira Malawi is from tomorrow, September 5-6, hosting its first-ever international arbitration symposium at Bingu International Convention Centre (BICC) to cement and…

Illovo Sugar Malawi sponsors K10 million towards the hosting of the first -ever Malawi International Arbitration Centre Symposium

September 3, 2024

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* The Malawi International Arbitration Centre is a joint venture private company limited by guarantee * Incorporated by the MCCCI and the Malawi Law Society (MLS) on September 7, 2023 * Which establishes and seeks to maintain a private sector-led neutral and independent facility for the resolution or settlement * Of commercial, investment and other disputes by way of arbitration, mediation and like processes as opposed to litigation in the Courts By Duncan Mlanjira In a move towards enhancing…

Competition and Fair Trading Act set to bite harder for its perpetual offenders as fines attract up to 10% of gross annual turnover

September 3, 2024

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* It has taken 26 years for the CFTA to be reviewed after it became a trend by big businesses to continue breaking the competitive and fair trading law * But the old law (CFTA, 1998) was repealed and enacted to pave way for the new law (CFTA, 2024), which became operational on July 1, 2024 Analysis by Duncan Mlanjira Big businesses and traders opted to become perpetual offenders of unfair trading practices because the punishment fine of K500,000,…

Airtel Malawi Plc warns its customers of fake offer of Airtel Money loans being circulated on social media

September 2, 2024

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* The flier indicates that hundreds of thousands of customers have already accessed the loans * And just a few of four people attest to have benefited, who are most definitely in collusion with the scam By Duncan Mlanjira Airtel Malawi Plc has disassociated itself from fliers that are awash on social media of WhatsApp groups enticing customers to Airtel Money Kutchova Loan, saying saying it’s all fake. The fliers entices customers to access a loan of up to…

Mozambique’s President Nyusi denies report of 99-year lease of port of Nacala to Malawi

September 2, 2024

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* The agreement between the two countries is to develop a dry port, with a view to securing Malawi’s cargo * In order to ensure that more cargo from Malawi is prepared at that location and arrives at the port without costs * Which end up creating the challenge of logistics in general and this can only happen after a feasibility study Maravi Express The Memorandum of understanding (MoU) which Malawi and Mozambique signed last month did not grant a…

NRWA alerts people living along the shores of Lake Malawi and Shire River to be prepared for increased water levels

September 1, 2024

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* Levels as at August 26, 2024 were 475.70 metres above the sea level (masl) * The levels were 475.28 masl on the same dates last year — representing an increase of 42cm higher * While the highest recorded level this year was 476.38 masl, that was attained from April 21-25, 2024 By Duncan Malawi National Water Resources Authority (NRWA) alerts people living along the shores of Lake Malawi and Shire River to be prepared for increased water levels…

ESCOM drills five boreholes in Neno and Mwanza under Mozambique-Malawi power interconnection Project

August 29, 2024

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* The corporation has drilled three boreholes in Mwanza and two in Neno for the communities that relocated from their pieces of land to pave the way for the transmission line * This is part of compensation for MOMA project affected persons (PPAs) Maravi Express Electricity Supply Corporation of Malawi (ESCOM) Limited has drilled five boreholes in Neno and Mwanza districts for the communities displaced by the Mozambique-Malawi (MOMA) 400kv Power Transmission project. At the handover of the first…